Down Payment and Closing Cost Loan definition

Down Payment and Closing Cost Loan means a qualified mortgage loan evidenced by a note and secured by a second deed of trust made to a qualified applicant for down payment assistance and/or for the payment of closing costs.
Down Payment and Closing Cost Loan means a down payment and/or closing cost loan from the Division to Eligible Borrowers who are Qualified Applicants in accordance with the Nevada Housing Division Down Payment and Closing Cost Loan Program and/or Down Payment and Closing Cost Loan Program for Teachers Mortgage Purchase and Selling Supplement.

Examples of Down Payment and Closing Cost Loan in a sentence

  • Down Payment and Closing Cost Loan Purchase Date shall mean the date established by Program Administrator and Servicer for payment of the purchase price of a Down Payment and Closing Cost Loan.

  • Down Payment and Closing Cost Loan Note shall mean a promissory note that (1) evidences a Down Payment and Closing Cost Loan issued by a Participating Lending Institution to an Eligible Borrower; and (2) is secured by a Down Payment and Closing Cost Loan Deed of Trust.

  • Interest Rate shall mean the maximum annual rate of interest that a Down Payment and Closing Cost Loan Note shall bear, and for the purpose of the Down Payment and Closing Cost Loan Program, interest rate shall be set by the Division.

  • Where:“Scheduled Trading Day” means any day on which (i) the Index Sponsor is scheduled to publish the level of that Index and (ii) each Related Exchange is scheduled to be open for trading for its regular trading session.

  • Terms capitalized in these General Conditions include those that are (1) specifically defined, (2) the titles of numbered articles or (3) the titles of other documents published by the American Institute of Consultants.

  • The purpose of this Agreement is to set forth the general requirements and policies with respect to the qualification of Eligible Borrowers, as well as the basic requirements that all Down Payment and Closing Cost Loans must meet in order to be purchased under the Nevada Housing Division Down Payment and Closing Cost Loan Program.

  • Once Geller accepted delivery of the drawings, reviewed them, and began working with them, it accepted the terms contained in the title block.

  • Down Payment and Closing Cost Loan Deed of Trust shall mean an instrument, including, without limitation, a deed of trust, mortgage deed, or other mortgage, that secures a Down Payment and Closing Cost Loan that creates a second lien, which is junior to the Division’s first lien, on a fee interest in real property located within the State.

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